234,000 food orders are placed on this app every day, but most Americans still don’t know about it

Grubhub Seamless, the online and mobile food ordering service
company, now processes nearly a quarter-million (234,700) online
food orders per day on average, according to its first quarter
earnings last week. That’s a 30% jump from the same quarter of
last year, although it's a smaller growth than previous years.

As seen in the chart below, put together
by BI Intelligence, Grubhub continues to grow its daily
average order volume, but at a slowing pace. Its daily average
order has nearly doubled in the last two years, but at the same
time, its growth rate has dropped nearly 10 percentage points
year-over-year.

But investors seem to believe there’s still huge upside. Although
a recent
Morgan Stanley survey revealed that nearly 80% of Americans -
and 44% of New Yorkers - are clueless about Grubhub, the
investment firm says “low penetration and consumer awareness
could drive a 5x expansion in GRUB’s user base.”

In fact, Americans only spend about $9 billion a year on online
food ordering, a tiny fraction of the total $70 billion food
takeout and delivery market. Grubhub already controls
over 20% of that $9 billion online market, and has plans to
expand into the food delivery market as well: it recently
acquired two startups, Restaurants on the Run and DiningIn, that
currently deliver for more than 3,000 restaurants in the US.